IRON and STEEL
This month last year, the previous head of Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO), which is the country’s major state-owned holding active in the mining sector, announced the organization’s top 10 targets to be followed up through some programs for domestic production of parts and equipment used in the mining sector as well as indigenizing required technology of this sector.
Elaborating on the mentioned objectives in a meeting of the IMIDRO’s Indigenizing Committee in early February 2020, Khodadad Gharibpour said achieving the technology required in designing and establishing the production lines with the aim of boosting productivity, reducing foreign currency expenditures, and promoting employment are the major aims pursued by the “domestic production” strategy.
The official stressed that befitting from domestic capabilities and potential in manufacturing of parts, equipment, and machinery, as well as the production of raw materials is a necessity for the country in the current condition.
Increasing the profit-making status of the enterprises through reducing the production costs is another major objective of the domestic production approach, he added, and said that benefitting from domestic technical knowledge and creating a platform on which the enterprises active in the mining sector can exchange their experiences in this due is the other important target.
Supporting innovative ideas, creating opportunities for domestic manufacturers, stable supply of the mining industries’ requirements, and reducing the existing risks were named as the other targets by the official.
Stressing his organization’s facilitating approach, Gharibpour said, “Our mission is to expand mining exploration through more cooperation with the private sector, supporting the knowledge-based companies, and achieving the technical knowledge for completing the production chain.”
IMIDRO’s strong will for materializing the domestic production target bore fruit as one month ago the organization announced that the domestic production policy followed up by nine large mining companies saved the country $350 million during the first half of the current Iranian calendar year (March 20-September 21, 2020).
Through supplying the required parts and equipment from the domestic manufacturers, the mentioned nine companies, which were Gol Gohar Mining and Industrial Company, Khuzestan Steel Company, Mobarakeh Steel Company, National Iranian Copper Industry Company, Esfahan Steel Company, Hormozgan Steel Company, Chadormalu Mining and Industrial Company, Khorasan Steel Company, and Iran Alumina Company, managed to support Iranian producers as well as implement the domestic production plan successfully.